Shares of China Evergrande plunged as much as 24% on Monday after the embattled developer said it was unable to issue new debt due to an ongoing investigation into one of its subsidiaries, dealing a fresh blow to its restructuring plans.
plunged as much as 24% on Monday after the embattled developer said it was unable to issue new debt due to an ongoing investigation into one of its subsidiaries, dealing a fresh blow to its restructuring plans.
In August, Hengda Real Estate said it was being investigated by China's securities regulator for suspected violation over the disclosure of information.police detained some staff at its wealth management unitShares of Evergrande, which has more than $300 billion in liabilities, fell as much as 23.6% to HK$0.
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